Cost of Living Comparison Between Akranes and Selfoss Cost of Living Comparison Between Akranes and Selfoss

Monthly Cost of Living

Monthly costs for one person with rent: $3,507 in Akranes versus $3,533 in Selfoss.

Estimated couple costs with rent: $5,547 in Akranes versus $2,478 in Selfoss.

Monthly costs for a family of three with rent: $7,588 in Akranes versus $1,422 in Selfoss.

Living in Akranes costs roughly 1% less than in Selfoss, driven mainly by Eating Out.

Both cities are pricier than the global median: Akranes 161% above, Selfoss 163% above.

Meal at Budget Restaurant

$27.23 ISK 3,390

Three-Course Dinner for Two, Mid-Range

$145 ISK 18.0K

Fast Food Meal (McDonalds, etc)

$22.36 ISK 2,784

$19.63 ISK 2,444

13.91%

Cappuccino

$5.86 ISK 730

Coke/Pepsi/Fanta/Sprite (0.33 liter bottle)

$3.18 ISK 397

Water (0.33 liter bottle)

$2.37 ISK 295

Local Beer (0.5 liter draught)

$10.25 ISK 1,276

$12.26 ISK 1,527

-16.39%

Imported Beer (0.33 liter bottle)

$8.16 ISK 1,016

Milk (1 liter)

$1.86 ISK 232

$1.75 ISK 218

6.29%

White Bread (500g)

$1.99 ISK 248

$7.42 ISK 924

-73.18%

Rice (white) (1kg)

$3.68 ISK 458

$4.32 ISK 538

-14.81%

Eggs

$5.99 ISK 745

$6.22 ISK 774

-3.70%

Local Cheese (1kg)

$17.88 ISK 2,226

$16.97 ISK 2,113

5.36%

Chicken Fillets (1kg)

$24.33 ISK 3,029

$21.17 ISK 2,635

14.93%

Beef Round Steak (1kg)

$42.76 ISK 5,324

$33.10 ISK 4,121

29.18%

Apples (1kg)

$3.30 ISK 410

$2.76 ISK 344

19.57%

Banana (1kg)

$2.50 ISK 311

$2.59 ISK 322

-3.47%

Oranges (1kg)

$3.07 ISK 382

$2.57 ISK 320

19.46%

Tomato (1kg)

$4.71 ISK 587

$7.15 ISK 891

-34.13%

Potato (1kg)

$3.56 ISK 443

$3.14 ISK 391

13.38%

Onion (1kg)

$2.37 ISK 295

$2.07 ISK 257

14.49%

Lettuce (1 head)

$3.12 ISK 389

$3.59 ISK 447

-13.09%

Water (1.5 liter bottle)

$1.92 ISK 240

$1.34 ISK 167

43.28%

Cigarettes 20 Pack (Marlboro, Camel)

$13.77 ISK 1,715

$15.37 ISK 1,914

-10.41%

Wine (Bottle)

$22.98 ISK 2,862

Local Beer (0.5 liter bottle)

$2.88 ISK 359

Imported Beer (0.33 liter bottle)

$2.03 ISK 253

$1.10 ISK 137

84.55%

One-way Ticket (Public Transport)

$3.72 ISK 464

Public Transport Monthly Pass (Regular Price)

$73.2 ISK 9,110

Taxi Start (Normal Tariff)

$6.16 ISK 767

Taxi (Normal Tariff) (1km)

$1.09 ISK 136

Taxi 1hour Waiting (Normal Tariff)

$87.5 ISK 10.9K

Gasoline (1 liter)

$2.56 ISK 319

Midsize Hatchback 1.4l (Volkswagen Golf, Toyota Prius, Honda Civic, etc)

$47.9K ISK 6.0M

Compact Sedan 1.6l (Toyota Corolla, Mazda3, Kia K4, Hyundai Elantra, etc)

$53.0K ISK 6.6M

Utilities for 2 People in 2-bedroom Apartment (Heating, Electricity, Gas, Water, Garbage) (85m2)

$89.0 ISK 11.1K

SIM Card Monthly Plan (Calls and 10GB+ Data)

$27.09 ISK 3,372

Internet (50+ Mbps, Unlimited Data)

$85.4 ISK 10.6K

Cinema Ticket

$17.79 ISK 2,215

Preschool or Kindergarten, Full Day, Private, 1 Child (Monthly)

$323 ISK 40.2K

International Primary School, 1 Child (Yearly)

$29.7K ISK 3.7M

Jeans (Levis 501 Or Similar)

$139 ISK 17.3K

Summer Dress (H&M, Zara, etc)

$62.0 ISK 7,714

Sport Shoes (Adidas, Nike)

$182 ISK 22.7K

Men's Leather Business Shoes

$267 ISK 33.2K

1-bedroom Apartment, City Center (Monthly)

$2,952 ISK 367.5K

1-bedroom Apartment, Outside City Center (Monthly)

$1,904 ISK 237.1K

$2,884 ISK 359.0K

-33.97%

3-bedroom Apartment, City Center (Monthly)

$4,727 ISK 588.5K

3-bedroom Apartment, Outside City Center (Monthly)

$3,649 ISK 454.3K

Average Monthly Net Salary (After Tax)

$5,692 ISK 708.6K

20-Year Fixed Mortgage Interest Rate (Annual %)

9.63

CityCost data is based on AI and user input – minor inaccuracies may occur.

Last update for Akranes: June 8, 2026

Last update for Selfoss: June 8, 2026

City Median Internet Speeds Comparison (Updated April 2026)

The chart highlights the Precision Threshold for mobile and fixed broadband internet speeds, updated quarterly.

Digital Nomad Cost of Living Index

Akranes vs Selfoss: Cost of Living - Frequently Asked Questions

Akranes and Selfoss differ by about 1% in total monthly costs ($3,507 vs $3,533 including rent). Akranes is meaningfully more affordable – a gap that matters a lot on a fixed or modest income.

You'd need roughly $5,261 in Akranes and $5,299 in Selfoss to live well. The gap comes down to housing and overall price levels. Both cities are liveable on less, but these numbers represent actual comfort.

Shoppers in Selfoss pay roughly 10% less for everyday groceries. It's an unusual reversal that partly offsets higher costs elsewhere.

All in, you'll spend $3,507 per month in Akranes versus $3,533 in Selfoss – a 1% gap that adds up to real savings over time for anyone picking the cheaper option.

At $3,507 in Akranes versus $3,533 in Selfoss, a $2,000 budget is realistic in Akranes but tight or insufficient in Selfoss. The gap between the two cities makes Akranes the clear choice for anyone on this budget.

Both cities offer a good standard of living with different trade-offs. Neither is objectively better – the right pick depends on what matters most: affordability, career, cultural scene, or climate.

Safety-wise, Akranes and Selfoss are on par. Petty crime is typical for cities this size, and most residents feel comfortable going about their daily routines in either place.

Expats usually find Akranes gentler on the wallet – expenses run 1% less than in Selfoss. Beyond cost, consider language, visa policies, and how big the international community is in each city.